What happens if president-elect Laporta can't come up with the guarantee?
The new Barcelona president must first come up with a €125 million guarantee
Joan Laporta is set to become the new Barcelona president after winning last weekend's election but first he must present a guarantee of 125 million euros (15 percent of the club's budget). And that's what he's working on, with negotiations ongoing on various fronts.
The departure of Jaume Giro from his team, who was set to oversee the financial side of the club, hasn't helped. Time is not in Laporta's favour, exactly.
According to Barça's statutes, he has 10 days (starting from March 8) to present the guarantee and be officially installed as the new Barça president. That 10 day period ends on Wednesday.
If the guarantee is not sorted and approved by La Liga by Wednesday, Laporta will be locked out and a new Management Committee would be in charge of running the club again with another election called.
That comes from Article 54 of the club's statutes. Laporta needs to close the guarantee on Tuesday to be able to take charge on Wednesday. there's no more time.
